ASTANA, Kazakhstan, June 4. KazMunayGas (KMG, Kazakhstan's national oil and gas company) and Chinese SIPC (Sinopec International Petroleum Corporation) have discussed options for further development of the Alibekmola and Kozhasai oil and gas condensate fields of Kazakhoil Aktobe LLP (KOA) in the Aktobe region of Kazakhstan, Trend reports.
According to the KMG, discussions were held between Chairman of the Board of KMG Askhat Khassenov and SIPC Vice President Zhao Quanmin.
In 2023, the level of oil production in KOA exceeded 505,000 tons. This year, according to the oil production plan, the company should reach 477,000 tons, of which about 200,000 tons were produced in 5 months in 2024. KOA participants are KMG at 50 percent and Caspian Investments Resources Ltd. (Sinopec) at 50 percent.
New technologies for maintaining production plateaus and the possibility of drilling appraisal wells to increase reserves were also discussed at the meeting. In the field of environmental initiatives, in 2022, KOA was one of the first in the KMG group of companies and in the country to introduce an automated information system for environmental monitoring of emissions.
Meanwhile, Kazakhstan has been cooperating with Sinopec for a long time. In particular, Kazakh KazMunayGas signed an agreement in the field of geological exploration of the subsoil of the country with China's Sinopec in May 2023. The document assumes a joint study of 17 exploration sites located within the main and poorly studied sedimentary basins.
China Petroleum & Chemical Corporation, or Sinopec, is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai. Sinopec Limited's parent, Sinopec Group, is the world's largest oil refining, gas, and petrochemical conglomerate, headquartered in Chaoyang District, Beijing.
